Ensure you never miss an issue of the
real estate business bulletin
Homebuyers attracted to cheaper living

Homebuyers attracted to cheaper living

by Reporter 0 comments

Belinda Luc

Home buyers are becoming more active in the outer suburbs where the cost of living is cheaper, according to Raine & Horne.

Port Macquarie on NSW’s north coast is enjoying a significant uptick in buyer demand.

Raine & Horne Port Macquarie principal Diane Deland said moderate climate and cost of living were proving major attractions for retirees and downsizers who were looking for a sea change.

According to Raine and Horne, Sydney’s electricity costs rose 60 per cent between June 2005 and June 2010. Over the same period, Canberra costs jumped 46 per cent.

“With gas and electricity prices increasing considerably, it’s cheaper to live in towns like Port Macquarie,” Ms Deland said.

“The combination of an excellent climate and Port Macquarie’s housing affordability is also a big attraction," she said.

According to Ms Deland, retirees can sell a city home or rural property and purchase a near new, four bedroom, ensuite house for between $400,000 and $500,000 in the Innes Lake area “about 10 minutes from the CBD”.

“This leaves enough money to fund a decent retirement,” she said.

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
Homebuyers attracted to cheaper living
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?